1101 Oklahoma St

Lake Charles, LA 70607

$119,500B+

4 bd · 2.0 ba · 1,474 sqft · Built 1980 · MultiFamily · Active · 88 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,867/mo
• Mortgage (P&I): −$627
• Tax + insurance: −$98
• HOA: −$0
• Vac / Maint / Mgmt: −$392
• Net cashflow: $750/mo
• Annual: $8,998/yr
• Cap rate: 13.82%
• Cash-on-cash: 26.89%
• DSCR: 2.20
• 1% rule: 1.56%
• Cash to close: $33,460

Investor read

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $120k. Condition is rated fair.
• At list price, monthly cash flow is $750 ($9k/yr) — positive. Per door: $375/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• It's been on market 88 days — a 6% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $112k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $826 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#95 in LA) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, amenities F, employment D-.
• Calcasieu Parish (other): math 30% / reading 44% proficiency, ranked #29 of 98 in LA (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Brentwood Elementary School (math 8% / reading 22%, grade F, #513 of 646 statewide, top 80%, 274 students, 89% FRL); F. K. White Middle School (math 26% / reading 39%, grade F, #104 of 218 statewide, top 48%, 661 students, 67% FRL); Lagrange High School (math 9% / reading 22%, grade F, #217 of 265 statewide, top 82%, 907 students, 76% FRL) — zoned schools average 77% FRL vs 52% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 21% at this address vs 37% district-wide (-16 pts) — the specific schools serving this property underperform the Calcasieu Parish average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+8.6%/yr); 738 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,298 units permitted in Calcasieu Parish in 2024 (526 in 5+ unit buildings).
• Calcasieu County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $56k; list at $120k implies a 112% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $33k cash investment doubles in ~4 years — after that, you're playing with house money.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 13.8% vs local median 5.1% in Lake Charles — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?

Repairs flagged (vision-AI assessment)

• Major: roof — Significant wear and tear on the roof.
• Major: exterior siding — Severe discoloration and wear on the exterior siding.
• Major: landscaping — The landscaping is unkempt and in poor condition.
• Major: HVAC system — The HVAC system appears to be in poor condition.